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E-Myth – “Why most small businesses don’t work & what to do about it”

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Edmonton Business Consultant | Minimizing Staff Attrition

Employers are going to lose employees no matter what they do in their business says Edmonton business consultant. Business owners often think that the cost of hiring new employees is far greater than the cost of keeping employees, so they see the failure to keep people as a feeling of their own. However, entrepreneurs need to realize that while working to keep the great people in their business is admirable, business owners are also not in control of when they might lose employees no matter how great they are or what they do to keep them. Because of that, entrepreneurs should understand that they should always be looking for great people in their business while at the same time working to keep the staff that they do have.

Increasing the retention rate of employees is great, and can be done a couple of ways this Edmonton business consultant. Clearly communicating the corporate values to employees is a very powerful way to ensure that the people that are working in the business are emotionally connecting to the mission and vision of the company. Business owners should understand that the values of the company are often more important to employees than even salary and wages are. Business owners who need to see proof of this should look no farther then people who work for not for profits or people that volunteer their time for free for charities. People who connect with the values of an organization are willing to work a little harder, or stay because they can so deeply connect on an emotional level.

Another way that entrepreneurs can ensure that there doing what they can to retain the employees that they have, is by implementing regular reviews of their staff. Business owners should see this as outcome-oriented reviews that are expected so they do not seem to be indicative problems by the employees. Entrepreneurs can use this time to congratulate the successes of their staff as well as reward good behaviour, but also address the problems that struggling employees might have in order to fix it, or correct behaviours that they see that could be problematic. This way, entrepreneurs can start to cultivate the behaviours in their staff that align with their mission and vision.

However, business owners should understand that despite all of their best efforts, there is going to be a certain amount of attrition in a business matter what. Edmonton business consultant says staff members leave an organization when the timing and circumstances are right for them. They might get injured, they might move out of the city, or be inspired to start a new career. Because these things are out of the business ownerís control, and usually have nothing to do with the entrepreneur or their company, business owners should not take it personally, but need to understand that by proactive in their business, they can minimize the effect of losing their staff members, so that their business can continue running, and they can look for the right employee to fill the spot.

Entrepreneurs should not be so scared of losing employees that they keep the wrong employee longer than they should says Edmonton business consultant. Allowing the wrong people to continue to work in their business is actually extremely unfair to all employees. Subpar employees can actually cause good staff to leave the organization, or be demotivated. There is often a bigger cost associated with having the wrong employee then is associated with finding a new one. While many entrepreneurs have been told that it is much more advantageous to keep the employees that they have, business owners should understand that as long as there are in a business that requires people, there is always going to be a need to finding people.

Edmonton business consultant says that currently in this economy, the average millennial employee only stays 2.3 years, marking a time in businesses where they may have to replace employees more often than they ever have before. Because of this, entrepreneurs should avoid taking it personally, and instead build their business in such a way that they can minimize the effects that transition has in their corporation. For example, business owners can ensure that they always have multiple people it in their organization who can take on any role. That way, if any one person leaves, every role in their business continues to get done.

By ensuring that their business can continue to operate no matter who leaves, business owners can avoid feeling pressured or rushed into making a decision on who to hire in their business. Edmonton business consultant says rushed entrepreneurs often end up making the wrong decision about who to hire in their business. Since it is so important to have the right staff, business owners who can avoid this, can ensure that they are taking the time to choose the right person for their organization.

Another way that entrepreneurs can ensure that there finding the right person, is to never stop searching for people. Entrepreneurs never can predict when they might needs to bring on a new hire, therefore if there always holding interviews and recruiting, they are able to meet a larger amount of people, in order to maximize their chances of finding the right one.

Something else that entrepreneurs can do while they are recruiting to maximize the chances of finding the right person says Edmonton business consultant, is to clearly articulate the businessís values during the interview process. The reason why this is important, is so that they can ensure that the people that are applying understand the values, so that the right people who resonate with those values will want to continue pursuing the opportunity, and it increases the chances that the people who do not align with those values will opt out of the opportunity.

It is extremely important that business owners are very clear about what their business stands for as they continue the search for the right person, so that they can maximize their chances of finding someone who is going to be a great fit.